MKTG 201 Final Exam with Verified Solutions 100% Pass
1. PART 1
2. B. Profitability Marketing creates, communicates, and delivers value to
the firm's chosen customers. This enables the firm to
attract and keep customers. Attracting and keeping cus-
tomers drive for the firm.
A. Priced
B. Profitability
C. Promotion
D. Product
E. Place
3. A. Understanding The path to profitability starts with:
customers with- A. Understanding customers within the context of the mar-
in the context of keting environment
the marketing en- B. Executing clever advertising campaigns using digital
vironment media
C. Reducing price for disadvantaged customers
D. Developing distribution channels to reach a variety of
customers
E. Benchmarking and then copying successful competi-
tors
4. D. Societal For every pair of Toms shoes purchased, the company
donates a pair of shoes to a child in need. Which marketing
philosophy does Toms use?
A. Production
B. Sales
C. Market
D. Societal
E. Consumer
5. A. Product, price, Marketing strategy addresses a specific target market with
place, promotion a cohesive marketing mix of:
A. Product, price, place, promotion
B. Product, price, promotion, profit
C. Positioning, performance, potential, profitability
D. Price, place, people, promotion
E. Place, potential, product, performance
, MKTG 201 Final Exam with Verified Solutions 100% Pass
6. C. Ask, 'What "How do I come up with a killer product idea?"
problems are A. Ask customers what they want
people trying to B. Ask, "How much money can I make?"
solve." C. Ask, "What problems are people trying to solve."
D. Ask, "What are the competitive offerings?"
E. Ask, "Which distribution channels offer the most cost
effective solution?"
7. C. Opportunity Skullcandy, a $300 million headphones and audio acces-
sories business located in Park City, Utah, recognized a
growing trend in the purchase and use of digital audio
devices--MP3 players. The company created a unique line
of headphones, earbuds, and docks to capitalize on this
growing business. This is an example of which part of the
SWOT analysis?
A. Strength
B. Weakness
C. Opportunity
D. Threat
E. Option
8. C. Discretionary Malibu Boats, specialize in the production and market-
ing of recreational water sports boats, primarily for wake
boarding and wake surfing. What type of income is used
to purchase expensive boats and accessories offered by
Malibu Boats?
A. Gross income
B. Disposable income
C. Discretionary income
D. Total income
E. Benchmarking income
9. B. Cultural Achara is a marketing manager for a new line of Thai food.
The company wants to launch this new line in Scandi-
navia--Denmark, Norway, Sweden, Finland, and Iceland.
Achara knows that social forces affect consumers' atti-
tudes, beliefs, lifestyle, and ultimately consumption behav-
ior. Which social force has the most influence on Achara's
new product line--affecting what people eat?
, A. Demographic
B. Culture
C. Generational cohorts
D. Regulatory
E. Economic
10. A. Demographic Johan, a research analyst for LEGO, has been gathering
information about age, gender, and income for South-
east Asia, particularly Indonesia, Thailand, Singapore,
Malaysia and Philippines. Johan is gathering
data:
A. Demographic
B. Psychographic
C. Generational cohort
D. Economic
E. Political preference
11. C. Generational In the United States, people born during the same time
Cohorts period and who share similar life experiences are referred
to as:
A. Geographics
B. Psychographics
C. Generational cohorts
D. Economics
E. Culture
12. C. Joint Venture Cereal Partners Worldwide (CPW) was established in
1991 by General Mills (USA) and Nestle (Switzerland) to
produce and market ready-to-eat breakfast cereals world-
wide. The companies share ownership, control, and risk.
This is an example of which global market entry strategy?
A. Exporting
B. Licensing
C. Joint Venture
D. Foreign Direct Investment
E. International
13. D. Customization When Procter & Gamble first entered eastern Europe in
the early 1990s, the company made significant changes
to product packaging and pricing to fit local needs. This is
